The share price of Minor International Public Company Limited (SET: MINT) withstands the negativity in the Thai stock market during the morning session with a gain of 2%, but starting to pare gain in the afternoon as SET Index continued to underperform by dropping 1.28%.
As of 14:50 BKK time on Monday, MINT is trading at THB25.75 per share, an increase of THB0.25 per share or 0.98%.
Pi Securities expected MINT’s 4Q24 normalized profit to reach 2.8 billion baht, marking an 8% increase from the same period last year and a 13% rise from the previous quarter. This anticipated growth is attributed to the hotel business, with Revenue Per Available Room (RevPar) up by 8% in Europe and a 15% increase in Thailand and the Maldives compared to the same period last year, driven by a rise in Average Daily Rate (ADR) by 4-5% from the previous year.
Furthermore, the analyst predicted that the consolidated revenue for their restaurant business will grow by 3% from the same period last year, despite an expected softness in revenues from existing branches in China and Australia, offset by strong revenue performance, particularly from the flagship brands in Thailand, including The Pizza Company, Sizzler, Dairy Queen, Bon Chon, and others.
While the Same Store Sales Growth (SSSG) is up by 1.50% compared to the same period last year, the Total Sales Growth (TSSG) adjusted to increase by 6% from the same period last year.
Moreover, there is an expectation that there will be a recording of unrealized profits from the forward exchange contracts protecting against currency risks, amounting to 1.2 billion baht, supporting a significantly increased net profit projection at 4.1 billion baht or a notable 314% increase from the same period last year, and a remarkable 2,625% increase from the previous quarter. The analyst recommends a “Buy” rating with a target price of 36 baht.
